18 March 2022

MetalNRG plc

Further update on legal proceedings against Brit Energy Holdings LLP, Pierpaolo Rocco and BritNRG Limited

MetalNRG plc ("MNRG" or the "Company") takes this opportunity to announce a further update in respect of the civil legal proceedings in the English High Court (the "Court") against Brit Energy Holdings LLP (the "LLP"), Pierpaolo Rocco and BritNRG Limited (together, the "Defendants") for, inter alia, a declaration supporting the valid recission of certain agreements and the recovery from the Defendants of monies paid to the LLP in 2021.

On 24 February 2022, the Defendants asked for an extension to the deadline for the filing of defences until Friday, 18 March 2022. This is the maximum extension capable of being agreed between the parties to the proceedings without an application being made to the Court.

Despite MNRG agreeing to an extension to 18 March 2022, the Defendants have now sought a further extension to Tuesday, 22 March 2022, for which they will need to make an application to the Court (at their expense).

MNRG remains focused on receipt of the defences in this case and has accordingly consented to the Defendants making the application for a further extension.

The Company will provide further updates on these issues and the legal proceedings as appropriate.

Contact details:

 MetalNRG PLC 
  Rolf Gerritsen 
  Christopher Latilla-Campbell     +44 (0) 20 7796 9060 
 Corporate Broker 
  Lucy Williams/Duncan Vasey       +44 (0) 20 7469 0930 
 Corporate Broker 
  Nick Emerson                     +44 (0) 1483 413500 

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(END) Dow Jones Newswires

March 18, 2022 03:01 ET (07:01 GMT)

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